MicroeconomicsAddison-Wesley, 1994 - 655 ˹éÒ |
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˹éÒ 182
... line of the table . The budget equation is Qs = y P - P P m S Qm2 This equation tells us how the consumption level of one good varies as consumption of the other good varies . To interpret the equation , let's go back to the budget line ...
... line of the table . The budget equation is Qs = y P - P P m S Qm2 This equation tells us how the consumption level of one good varies as consumption of the other good varies . To interpret the equation , let's go back to the budget line ...
˹éÒ 184
... budget equation is or Qs = 30 S 6 - Q1 = 5 - Qm2 S Qm Figure 8.2 ( b ) shows the new budget line . Notice this time ... budget lines in parts ( a ) and ( b ) of Fig . 8.2 . In part ( a ) , both movies and soda cost $ 3 ; in part ( b ) ...
... budget equation is or Qs = 30 S 6 - Q1 = 5 - Qm2 S Qm Figure 8.2 ( b ) shows the new budget line . Notice this time ... budget lines in parts ( a ) and ( b ) of Fig . 8.2 . In part ( a ) , both movies and soda cost $ 3 ; in part ( b ) ...
˹éÒ 190
... budget line and so spends her entire income on the two goods . She is also on the highest attainable indifference curve . Higher indifference curves ( such as 2 ) do not touch her budget line , and so she cannot afford any point on them ...
... budget line and so spends her entire income on the two goods . She is also on the highest attainable indifference curve . Higher indifference curves ( such as 2 ) do not touch her budget line , and so she cannot afford any point on them ...
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allocative amount average total cost benefit budget line bushels buyers calculate capital cars change in price CHAPTER choices competitive consumer surplus consumption cost curve decreases demand and supply demand curve economic economists elasticity of demand equal equilibrium example factors of production falls Figure firm's firms graph haircuts higher hour household income effect increases indifference curve industry inelastic input interest rate isocost labor Lisa Lisa's long-run lower marginal cost marginal product marginal rate marginal revenue marginal revenue product marker pens million tapes monopoly movies and soda oligopoly opportunity cost output percent perfect competition Price dollars production possibility frontier profit quantity bought quantity demanded quantity supplied rate of substitution relationship rent rises sell short-run shows six-packs slope sold supply curve Swanky tapes a week tion total revenue total utility unemployment units utility per dollar wage rate wealth workers zero